International

The British Association for Islamic Studies announced its annual conference on various Islamic issues. According to BRAIS, this two-day scheduled conference this year, would return to the Institute for the Study of Muslim Civilisations (Aga Khan University) and the Institute for Ismaili Studies in London.Registration for the conference is managed by the BRAIS Management Hub at the Alwaleed Centre, University of Edinburgh, via the University of Edinburgh's ePay system.&nbsp;Further information about delegate fees can be found <a href="https://www.brais.ac.uk/conferences/brais-2026/registration">here</a>. The association provided a detailed provisional plan along with the themes that would be covered, which you can refer to ‘’<a href="https://www.brais.ac.uk/conferences/brais-2026">here''</a>. Please be aware that the programme is likely to change in the months leading up to our conference. &nbsp;<h3 style="margin-left:0px;">Day 1: Monday 18th May 2026</h3><ol><li>Opening and Keynotes:<ul><li>Welcome by Fozia Bora and Jonas Otterbeck.</li><li>Keynote address by Professor Ovamir Anjum (University of Toledo).</li></ul></li><li>Panel Sessions:<ul><li>Akhbārī Knowledge and Shiʿi Scholarship in Late Safavid Iran:<ul><li>Focus on Safavid-era Akhbārī ḥadīth commentary, scholarly memory, and the intersection of medicine and hadith.</li><li>Chair: Majid Montazer Mahdi (Institute of Ismaili Studies) Robert Gleave (University of Exeter) Safavid Akhbārī ḥadīth commentary: Muḥammad Taqī al-Majlisī’s Lawāmiʿ Ṣāhibqirānī&nbsp; Majid Montazer Mahdi (Institute of Ismaili Studies) Writing the Self into Tradition: al-Ḥurr al-ʿĀmilī and the Politics of Scholarly Memory&nbsp; Ali Ameri Rad (Independent Scholar) Medicine versus Hadith: The Case of Musakkin al-shujūn fī ḥukm al-firār min al-ṭāʿūn by al-Sayyid Niʿmatullāh al-Jazāʾirī&nbsp; Zahra Jafari (University of Exeter) Late Safavid Akhbārī Reorientation: Shaykh Yūsuf al-Baḥrānī’s Legal Legacy</li></ul></li><li>Lived Islam in Britain:<ul><li>Topics on Muslim chaplaincy in British universities, welfare systems, and young Muslim adults' spiritual experiences in the UK.</li><li>Chair: Haroon Sidat (Cardif University) Hanan Basher (Cardiff University) Qur'anic Approaches to Spiritual Care by Muslim Chaplaincy in British Higher Education&nbsp; Muhammad Nabil (SOAS) Britain's First Muslim Burial Fund: Archival Narratives of Migration, Civil Society and Welfare&nbsp; Muthanna Saari (University of Sussex) Zakat and the moral economy: Ethic of care, social solidarity and the aspiration for a good life&nbsp; Ruqaiah Al-Kabab (University of Salford) Young Arab Muslim Adults' Lived Spiritual Experience with Allah while studying in the UK: An integrated research methodology&nbsp;</li></ul></li><li>Gender, Power, and Interpretation in Islamic History:<ul><li>Exploring women’s roles in history, from chess to Mughal architecture and modern Islamic law.</li><li>Majideh Qazizadeh (University of Exeter) Women, Myth, and the Gendering of Chess in Islamicate Literature&nbsp; Laila Halani (The Institute of Ismaili Studies) Female empowerment: 'Khoja' and Momin engagement with their Aga Khan III's vision as reflected in the community's Rules (1905-1950s)&nbsp; Qudsia Mirza (University of East London) Beyond Text and Tradition: Women's Interpretive Interventions in Modern Islamic Law&nbsp;</li></ul></li><li>Transmission of Knowledge Across Islamicate Cultures:<ul><li>Classification of sciences, intellectual traditions, and knowledge transmission across the Islamic world.</li><li>Chair: Petra Schnidl (FAU Erlangen-Nuernberg)&nbsp; Godefroid de Callatay (UCLouvain) The Ikhwān al-Ṣafā’s classification of the sciences: an overview of its diffusion and reception over the ages and cultures&nbsp; Laura Tribuzio (UC Louvain) Marks of Power, Traces of Knowledge: Ottoman Manuscripts of the Mujmal al-Ḥikma and the Brethren of Purity&nbsp; Ahmed Tahir Nur (Universitat Autònoma de Barcelona) From Alexandria to Baghdad to Istanbul: Tracing an Influential Framing of Knowledge&nbsp; Razieh Mousavi (FAU Erlangen-Nuernberg) Unity in Diversity: Numbers and the Synthesis of Knowledge in a Safavid Classification of Sciences&nbsp;</li></ul></li><li>Alternative Sources for Early Islamic History:<ul><li>Exploring genealogical, maternal kinship, and manuscript sources as new perspectives on Islamic history.</li><li>Chair: Adam Ramadhan (Leiden University) Leone Pecorini Goodall (Leiden University) Identifying and investigating maternal kinship ties in Umayyad and Alid panegyric&nbsp; Aliya Abdulkadir Ali (University of Cambridge) Imagining and Erasing: Women’s Political Roles in Early Islamic Genealogical and Narrative Traditions&nbsp; Aslisho Qurboniev (Institute of Ismaili Studies) Using Fatimid ‘propaganda’ as a historical source&nbsp; Clement Salah (University of Oxford) Manuscripts and Mālikī Scholarship: The Kairouan Collection as an Alternative Source for Early Islamic History&nbsp; &nbsp;</li></ul></li><li>East African Muslim Sojourners in Colonial Britain:<ul><li>The Somali Village in Colonial Bradford project investigates the largely buried and significantly overlooked history of the 1904 Great Exhibition in the West Yorkshire city of Bradford, within which a key attraction was a ‘Somali Village’. Around 57 Somali men.</li><li>Chair: Fozia Bora (University of Leeds)&nbsp; &nbsp;</li></ul></li></ul></li></ol><h3>Day 2: Tuesday 19th May 2026</h3><ol><li>Panel Sessions:<ul><li>Law, Authority, and Reform in the Late Ottoman Empire:<ul><li>Topics on Ottoman legal reforms, state intervention in waqfs, and late Ottoman thought.</li><li>Chair: Tom Woener-Powell (University of MAnchester) Hamdi Çilingir (Sakarya University) and Şerife Eroğlu Memiş (Ankara Hacı Bayram Veli University) Between State Interest and Waqf Interest: The Council of State (Şûrâ-yı Devlet) and Ottoman Interventions in Waqfs, 1868–1908&nbsp; Ismail Noyan (Simon Fraser University) Towards a More Connected History of the Mecelle: Islamic Law, Codification, and Transimperial Networks Beyond Istanbul&nbsp; Bilal Taşkın (Istanbul Medeniyet University) Layers of Reality in Late Ottoman Thought: Ismā‘īl al-Galanbawī’s Theory of Nefs al-Amr&nbsp; &nbsp;</li></ul></li><li>From Creed to Currency: Islamic Legal and Ethical Reasoning:<ul><li>Exploring Shari’ah compliance, sustainability, and the evolving role of technology in Islamic law.</li><li>Camelia Garchi (Ez-zitouna University) Shari'ah Compliance or Islamic Moral Economy? Operationalising Ibn Ashur's Maqasid via sustainability&nbsp; Kadir Gombeyaz (Kocaeli University) The First (?) Commentary on al-Fiqh al-Akbar Written in Mamluk Egypt: Ahmad b. Sayf al-Din b. Fakhr al-Din al-Nasafi and His Sharh al-Fiqh al-Akbar&nbsp; Syed Muhammad Bilal Zaidi (LUMS) When "Principal" Loses Meaning: Ribā, Fiat Money, and the Ethics of Obligation&nbsp; &nbsp;</li></ul></li><li>Between Tradition and Nation in East and Southeast Asian Islam&nbsp;<ul><li>Examining the role of Islam in Europe, focusing on migration, faith, and governance.</li><li>Adele Cozzani (University of Naples) Islamic education in China during the Ming-Qing era: an introduction to Jingtang Jiaoyu, the Chinese Islamic educational system&nbsp; Trang Nguyen Quynh (VNU University of Social Sciences and Humanities) The Philosophy of “Purification” in Shiʿa Theology and Its Localization through the Roja Ritual of the Cham Bani Community in Vietnam&nbsp; Irfan Sarhindi (University of Oxford) Between Pancasila and Caliphate: Muslim Students Making Sense of Political Standpoints in Indonesia's Post-Digital Education&nbsp; Tingting Zhong (University of St Andrews) A Mainland Hui Muslim on the Periphery: Naming "Self" and "Other" in Ma Jianfu's Zaichang de Xinyang&nbsp;</li></ul></li><li>Islam in Contemporary Europe:<ul><li>Examining the role of Islam in Europe, focusing on migration, faith, and governance.</li><li>Chair: Alyaa Ebbiary (Lancaster University) Martin Eidrup (University of Gothenburg) and Goran Larsson (University of Gothenburg) Regulating Islam Through Democracy Criteria: A Comparison of Swedish and Belgian Legislation 2015-2025&nbsp; Egdunas Racius (Vytautas Magnus University) and Katarzyna Gorak-Sosnowska (Warsaw School of Economics) Migration of Central and Eastern European convert Muslims to the MENA region: between religious obligation (of hijra) and utility&nbsp; Daniel Vékony (Corvinus University of Budapest) Rejecting “bad Muslims”: The selective nature of Central European migration policies and image construction of Muslims in the context regular and irregular migration&nbsp; &nbsp;</li></ul></li><li>Islam, Authority, and Society in the Gulf:<ul><li>Discussions on family law, national identity, and intra-Wahhabi contestation in the Gulf.</li><li>Chair: Tom Lea (University of Edinburgh) Fatima Elhag (University of Oxford) Family Law in the Gulf: Gender Dynamics, Litigants' Strategies, and Socio-Legal Analysis of Qatar's Judicial Rulings&nbsp; Danny Tan (United Arab Emirates University) I am what I wear (or not): The complexities of meanings of Emirati national dress&nbsp; Philippe Thalmann (University of Cambridge) Prophetic Landscapes: Salafi lives in post-oil Saudi Arabia&nbsp; Daniel Miller (University of Oxford) "Occupying the Holy Lands of Islam": Intra-Wahhabi Contestation over Non-Muslim Intervention in the Gulf War&nbsp; &nbsp; &nbsp;</li></ul></li><li>Muslim Women at the intersection of Theology and State:<ul><li>Exploring progressive Muslim women’s leadership, political advocacy, and theological debates.</li><li>Whitney Buchanan (University of Edinburgh) Progressive Muslimah Leaders' Engagement with Political Muslim Advocacy in the United States and Germany&nbsp; Anika Kabani (University of Oxford) Islam as Explanation, Secularity as Requirement: The predicament of Muslim women asylum seekers in the U.S.&nbsp; Fatimah Aidara (Independent Researcher) Rābiʿah Reimagined: Divine Love and Poetic Longing in Contemporary Expressions of Tasawwuf&nbsp; Thulfekar Ali (University of Glasgow) Which Eve, Which Women? Creation Narratives and the Making of Women’s Status in Islamic Thought&nbsp; &nbsp;</li></ul></li></ul></li></ol>

The British Association for Islamic Studies announced its annual conference on various Islamic issues, scheduled to be held on May 2026.

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Annual conference of BRAIS to be held in London

Centre for Contemporary Jurisprudence (Fiqh)

A new scholarly two-volume work titled “Afaq-e Velayat” by Ayatollah Sayyid Muhammad Reza Modarresi Yazdi has recently been published. The 965-page collection is based on the author’s revised Dars-e Kharij, the highest level of advanced Islamic jurisprudential seminars (fiqh). It brings together a series of in-depth academic discussions on key theological and jurisprudential themes within Shia thought.&nbsp;Among the central topics explored in the book are the concept of Wilayah al-Takwiniyyah (ontological authority) attributed to the Holy Prophet (PBUH) and the Imams (AS), as well as its broader implications in relation to the divine saints. The work also examines Wilayah al-Tashri’iyyah (legislative authority) of the Prophet and the Imams, alongside detailed exegetical analysis of the Qur’anic verse concerning Ulul-Amr (those in authority).In addition, the book discusses the necessity of the existence of a Wali (guardian or ruler), narrations related to Wilayat al-Faqih, and responses to theoretical objections raised against this doctrine. It also presents scholarly viewpoints from prominent jurists on Wilayat al-Faqih, along with an analytical study of narrations addressing the prohibition of armed rebellion (Khuruj bi al-Sayf).&nbsp;Published in two volumes, Afaq-e Velayat contributes to contemporary discussions in Shia jurisprudence and political theology by compiling advanced seminar-level research in a structured form.

The two-volume book "Afaq-e Velayat," authored by Ayatollah Sayyid Muhammad Reza Modarresi Yazdi, has been released

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Publication of Afaq-e Velayat by Ayatollah Modarresi Yazdi

SYDNEY, April 7, 2026 — Australia has enacted its first comprehensive digital assets legislation, introducing a licensing framework for cryptocurrency exchanges, custodians and other digital asset service providers in a move that fundamentally reshapes the country's regulatory landscape for crypto markets.&nbsp;The Corporations Amendment (Digital Assets Framework) Bill 2025 passed Parliament on April 1 and will require digital asset platforms operating in Australia to obtain an Australian Financial Services Licence (AFSL), extending financial services regulation to a sector that has largely operated outside the traditional regulatory perimeter.&nbsp;The legislation is widely regarded as one of the most significant reforms to Australia's financial services framework in recent years, providing legal clarity for cryptocurrency businesses while strengthening consumer protections for a rapidly growing investor base.<h3>Bringing Crypto Into the Regulatory Mainstream</h3>The new law amends the Corporations Act 2001 and the Australian Securities and Investments Commission Act 2001, integrating digital asset businesses into Australia's existing financial services regime.&nbsp;Under the framework, cryptocurrency exchanges, custodians and certain wallet providers will face licensing, disclosure, conduct and asset-holding obligations similar to those imposed on traditional financial institutions.&nbsp;Industry experts say the legislation reflects a broader recognition that digital assets have evolved beyond a niche technology and now perform many of the same economic functions as conventional financial products.&nbsp;"The regime is firmly positioned within the AFSL framework, which means investors and participants will benefit from protections Australians already understand and trust," said Steven Pettigrove, a financial services and fintech partner at Piper Alderman. Businesses will have an 18-month transition period to comply with the new licensing and operational requirements.<h3>New Categories of Financial Products</h3>A central feature of the legislation is the introduction of two new regulated financial product categories: Digital Asset Platforms (DAPs) and Tokenised Custody Platforms (TCPs).&nbsp;Digital Asset Platforms broadly cover businesses that hold digital tokens on behalf of customers and maintain records of customer interests, including cryptocurrency exchanges, brokers, custodians and some wallet providers.&nbsp;Tokenised Custody Platforms apply to operators that create digital representations of underlying assets while retaining custody of those assets on behalf of token holders. Regulators argue that the framework extends long-standing principles of financial regulation into the digital asset sector without requiring an entirely new legal architecture.&nbsp;Dr Rhys Bollen, Senior Executive Leader for FinTech, noted that the legislation reflects a government decision that digital assets can largely be accommodated within existing legal concepts while introducing targeted adjustments where necessary.<h3>Industry Divided Over Regulatory Approach</h3>While many industry participants welcomed the introduction of regulatory certainty, some questioned whether applying traditional financial services laws to digital assets adequately reflects the unique characteristics of blockchain technology.&nbsp;&nbsp;Michael Bacina, co-founder of NXT Law and a specialist in financial technology regulation, described the framework as an elegant solution that places digital asset businesses on a level playing field with traditional financial institutions.&nbsp;However, he argued that digital assets represent a fundamentally different technological paradigm. "Digital assets change the game in much the same way email transformed communication," Bacina said. “Forcing them into traditional regulatory structures may protect incumbents while limiting some of the benefits of decentralisation.” He pointed to the United States, where regulators have increasingly distinguished between traditional securities and many cryptocurrency tokens, as an alternative regulatory model.&nbsp;Questions also remain about how broadly the legislation could be applied to software developers, decentralised finance (DeFi) projects and infrastructure providers that support blockchain networks without directly controlling customer assets.<h3>Consumer Protection and Market Confidence</h3>The legislation arrives amid growing cryptocurrency adoption across Australia. According to the 2026 Independent Reserve Cryptocurrency Index, approximately one-third of Australians now own cryptocurrency, the highest level recorded since the survey began. Bitcoin remains the most widely held digital asset, owned by 71 percent of cryptocurrency investors. The survey also found strong support for regulation, with 62 percent of cryptocurrency investors indicating that licensed exchanges would increase their confidence in the sector.&nbsp;Trust remains a critical issue for broader adoption. Separate research commissioned by cryptocurrency exchange Swyftx found that concerns about regulation, fraud and consumer protection remain among the primary reasons many Australians have yet to invest in digital assets. Regulators believe the new framework will help address those concerns by establishing clear licensing standards and oversight mechanisms. ASIC's existing guidance already requires many digital asset businesses to assess whether their products fall within the scope of financial services law. The new legislation provides a more explicit regulatory framework and clearer compliance obligations.<h3>Custody Rules Viewed as Key Reform</h3>Among industry stakeholders, the proposed custody requirements have attracted broad support. Digital asset custody has emerged as one of the most significant risk areas within the cryptocurrency industry following a series of high-profile exchange collapses and security breaches globally.Bacina described the custody provisions as one of the strongest aspects of the legislation, arguing that robust safeguards for customer assets are essential for market integrity.&nbsp;"The requirements around digital asset custody are extremely sensible," he said. "If nothing else was regulated, custody moves the needle."However, he cautioned that excessive compliance costs related to licensing, insurance and capital requirements could reduce competition and drive smaller operators out of the market."If too many operators are pushed out with onerous costs, Australians may ultimately face reduced choice and be pushed toward unregulated offshore providers," he warned.<h3>Positioning Australia in the Global Digital Economy</h3>The legislation comes as major jurisdictions worldwide race to establish regulatory frameworks for digital assets. Governments across Europe, Asia and North America are introducing new rules aimed at balancing innovation with investor protection, creating increasing competition to attract digital asset businesses and investment. Australia's technology sector has argued that a well-regulated digital asset industry could deliver significant economic benefits. Previous estimates from the Tech Council of Australia suggested that a responsible digital asset sector could contribute up to $60 billion annually to Australia's economy by 2030 while reducing payment and transaction costs.&nbsp;For consumers, businesses and institutional investors, supporters argue that the legislation delivers something the industry has long sought: certainty.By creating a licensing framework for domestic operators, regulators hope Australians will be better able to distinguish between regulated local providers and unlicensed offshore platforms.&nbsp;Industry observers say the success of the reforms will ultimately depend on how ASIC implements the framework and how future regulations address emerging sectors such as decentralised finance, tokenisation and blockchain infrastructure.For now, Australia's Digital Assets Framework marks a significant milestone in the evolution of cryptocurrency regulation, signaling the country's intention to become a regulated but innovation-friendly participant in the global digital asset economy.&nbsp;https://lsj.com.au/articles/crypto-bitcoin-stablecoin-regulated-under-first-australian-digital-assets-legislation/

New legislation requires cryptocurrency exchanges and custodians to obtain financial licences as government seeks to balance innovation with consumer protection

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Australia Passes Landmark Digital Assets Law, Bringing Crypto Platforms Under Financial Services Regulation

The six-volume work Al-Amr bi al-Ma'ruf wa al-Nahy 'an al-Munkar (Enjoining Good and Forbidding Wrong), authored by Ayatollah Mehdi Shab Zendedar, has been officially released.&nbsp;Widely regarded as one of the most comprehensive contemporary jurisprudential studies on the subject, the collection represents the outcome of four years of advanced fiqh lectures delivered by Ayatollah Shab Zendedar. Building on these lectures, specialized research teams spent three additional years conducting in-depth scholarly investigations under a rigorous multi-stage review process.&nbsp;The project was developed through the collaborative efforts of numerous researchers and professors. Its final form benefited from 43 dedicated academic sessions led by the author, during which complex jurisprudential issues were carefully examined, refined, and incorporated into the text.&nbsp;&nbsp;Published entirely in Arabic, the six-volume set comprises approximately 2,600 pages and serves as a significant reference for scholars, researchers, and students of Islamic jurisprudence.&nbsp;The book is now available for purchase, with discounted pricing offered for both direct and installment payment options through the designated sales platform <a href="https://www.google.com/search?q=%23">link</a>.

The six-volume book Al-Amr bi al-Ma'ruf wa al-Nahy 'an al-Munkar (Enjoining Good and Forbidding Wrong), has been officially published

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Six-Volume Jurisprudential Work by Ayatollah Mehdi Shab Zendedar Officially Published (Amr bil-Ma'ruf)

ASHGABAT, January 2, 2026 — Turkmenistan has officially legalised cryptocurrency mining and exchange services, marking one of the most significant economic policy changes in the country's recent history as authorities seek to modernise a tightly controlled economy heavily reliant on natural gas exports.&nbsp;President Serdar Berdimuhamedov signed legislation that brings virtual assets under the country's civil law framework and establishes a licensing regime for cryptocurrency exchanges and mining operations under the supervision of the Central Bank of Turkmenistan. The move represents a notable shift for one of the world's most isolated states, which has traditionally maintained strict controls over both economic activity and internet access. While the new law legalises cryptocurrency-related businesses, digital assets will not be recognised as legal tender, currency, or securities and cannot be used as an official means of payment.&nbsp;Under the legislation, cryptocurrency exchanges, custodial services, and mining operations must obtain licenses from the central bank and comply with anti-money laundering and know-your-customer requirements. Both domestic and foreign entities may participate in the sector, subject to regulatory approval.&nbsp;The law classifies virtual assets as property rather than money, creating a legal framework governing their creation, storage, exchange, and circulation. Authorities have also prohibited anonymous cryptocurrency transactions and wallets as part of the regulatory structure. Industry observers say the legislation provides long-awaited legal certainty for cryptocurrency activities while maintaining significant government oversight.&nbsp;Turkmenistan's decision follows a broader trend among Central Asian states seeking to position themselves within the global digital asset industry. Neighboring countries, including Kyrgyzstan, have also introduced cryptocurrency initiatives and regulatory frameworks aimed at attracting investment and fostering financial innovation.&nbsp;The effectiveness of Turkmenistan's new framework will depend on how licensing requirements, technical standards, and enforcement mechanisms are implemented in practice. Market participants are expected to closely monitor the rollout of regulations during the coming months.For now, the legislation represents a significant policy departure for a country long associated with economic isolation, signaling a cautious but notable step toward participation in the global digital asset economy.&nbsp;https://www.aljazeera.com/news/2026/1/2/turkmenistan-legalises-crypto-mining-and-exchanges-in-shift-for-economy

Turkmenistan introduces licensing framework for digital assets as it seeks to diversify its gas-dependent economy

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Turkmenistan Legalises Crypto Mining and Exchanges in Major Economic Policy Shift

Iran

TEHRAN — The 11th Islamic Finance Conference, organized by the Iranian Association of Islamic Finance (IAIF), brought together leading scholars, policymakers, regulators, and financial experts to explore the transformative role of artificial intelligence in the future of Islamic finance.&nbsp;Held under the theme “Artificial Intelligence and the Future of Islamic Finance,” the conference examined how rapidly advancing technologies are reshaping financial systems rooted in centuries-old Sharia principles, while also addressing broader economic and regulatory challenges facing Iran’s financial sector.&nbsp;Opening the conference, on 15th of February 2025, Dr. Ali Salehabadi, Head of the IAIF, described artificial intelligence as an unavoidable reality rather than a distant innovation. He emphasized that AI is fundamentally “redefining the infrastructure of financial systems”, arguing that the central challenge is no longer whether institutions should adopt AI, but how to ensure it develops within the framework of Sharia principles and economic justice.&nbsp;That warning was reinforced by Dr. Mehran Mohammadian, Advisor to the Governor of the Central Bank of Iran, who described the pace of technological change as “breathtaking.” Comparing the current moment to the early rise of the internet, he argued that society is only seeing “the tip of the iceberg” in terms of AI’s capabilities and warned that countries or organizations that fail to adapt risk significant economic losses.&nbsp;Mohammadian suggested that the world is rapidly approaching a technological “singularity point,” where the distinction between human and machine-generated decisions is becoming increasingly blurred, fundamentally altering governance, policy-making, and economic management.&nbsp;While discussions focused heavily on emerging technology, conference speakers also highlighted the structural resilience of Iran’s Islamic capital market.&nbsp;Hojjatollah Seidi, Head of the Securities and Exchange Organization of Iran (SEO), pointed to the market’s reliance on real assets as a key source of stability amid inflation, political uncertainty, and systemic economic pressures. According to Seidi, Islamic financial systems possess a distinct advantage because they are tied to tangible economic activity, limiting speculative bubbles and distributing risk more rationally across the market. He also noted that Islamic finance has evolved beyond a narrow compliance-based approach into a broader framework centered on trust, sustainability, and resilience.&nbsp;He credited the flexibility of Shia jurisprudence and the work of the SEO’s Shariah Committee for enabling the development of innovative financial instruments capable of adapting to modern economic realities without compromising religious principles.Inflation and Budget Deficits Remain Central Concerns&nbsp;Gholamreza Mesbahi Moghaddam, Head of the Shariah Committee of the SEO and member of the Expediency Discernment Council, argued that persistent budget deficits remain the primary driver of inflation, which has exceeded 45 percent in recent years.He said sustainable inflation control would be impossible without balancing government expenditures and revenues, describing the government’s contractionary budget policy as a difficult but necessary measure.&nbsp;Mesbahi Moghaddam also stressed that achieving the 8 percent growth target outlined in Iran’s Seventh Development Plan would require significantly greater public participation in investment. Among the tools proposed to mobilize public capital were Gold Certificates, designed to absorb excess liquidity while protecting household savings against inflation, and the creation of currency funds aimed at channeling an estimated $70 billion in privately held foreign currency and gold into productive sectors of the economy.&nbsp;AI Applications in Islamic Banking&nbsp;Several presentations focused on the direct application of AI in Islamic banking operations.&nbsp;Dr. Hossein Meysami, faculty member at the Monetary and Banking Research Institute and Secretary of the Sharia Council of the Central Bank, argued that legal and jurisprudential systems often lag behind technological innovation. He warned that delaying AI adoption could leave the banking sector burdened by the costs of technological change without benefiting from its advantages.&nbsp;Meysami proposed several practical applications for AI, including intelligent Sharia supervision systems capable of assisting human regulators in monitoring banking operations and ensuring compliance with Islamic governance standards.He also emphasized the potential for AI to improve customer understanding of Islamic financial contracts by providing personalized explanations tailored to individual users, reducing the risk of fictitious or improperly understood agreements that may violate Sharia principles.&nbsp;Additional applications discussed included automated implementation of Sharia Council decisions, personalized educational tools, support for extracting jurisprudential rulings, and customized profit-rate mechanisms aimed at replacing rigid uniform banking structures.&nbsp;Speakers repeatedly warned that regulatory systems must evolve quickly to keep pace with technological change. Dr. Hossein Fahimi, board member of the IAIF, stressed that AI represents not only a technological issue but also a matter of economic justice and public responsibility.&nbsp;Referencing both the 2008 global financial crisis and recent episodes of volatility in Iranian markets, Fahimi cautioned that inadequate supervision of AI-driven financial activity could create widespread economic harm.Rather than resisting technological development, he called for “intelligent regulation” capable of encouraging innovation while simultaneously protecting investors and ensuring market transparency.&nbsp;He also argued that Islamic jurisprudential principles such as Itlaf (causing loss) and No Harm could serve as foundations for determining legal responsibility in cases involving AI systems.&nbsp;Dr. Mehdi Nouri, Head of the Institute for Economic Research and Development at the University of Tehran, echoed those concerns, saying regulators must abandon traditional supervisory models in favor of agile, data-driven oversight mechanisms.Nouri highlighted both the opportunities and risks associated with AI, including algorithmic trading, fraud detection, risk management, privacy concerns, and increased market volatility. He also emphasized the importance of regulatory sandboxes as controlled environments where regulators and private firms can safely test emerging technologies.&nbsp;AwardsThe conference concluded with the presentation of the 11th Islamic Finance Awards, recognizing outstanding contributions to research and innovation in the sector.<ul><li>The award for “Top Islamic Finance Institution of the Year 1404 (2025)” and the prestigious Dr. Mousavian Award were presented to the Iran Mercantile Exchange for its role in developing financial instruments and strengthening links between capital markets and the real economy.</li><li>Mesbahi Moghaddam received the “Top Islamic Finance Book” award for his publication Jurisprudence of the Capital Market.</li><li>Awards were also presented to researchers and graduate students for work focusing on insider information in capital markets, leveraged funds, banking structures, market-making mechanisms, intelligent supervision systems, and AI-related bias in Islamic finance studies.</li><li>Majid Pouyanmehr was named the “Top Individual in the Field of Islamic Finance,” receiving the 7th Dr. Abbas Mousavian Award for his contributions to the industry.</li></ul>

AI is fundamentally “redefining the infrastructure of financial systems” and AI should be used within the framework of Sharia principles and economic justice

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AI and Islamic Finance Converge at IAIF’s 11th Annual Conference

Islamic Seminary

The Secretary of the Supreme Council of the Seminaries, in an interview with IRIB news agency, elaborated on points related to the principle of the Guardianship of the Jurist (Wilayat al-Faqih) and the selection of the third leader of the Islamic Revolution.&nbsp;In the name of Allah, the Most Gracious, the Most MercifulAll praise is due to Allah, Lord of the Worlds, and may blessings and peace be upon our master and prophet, Abu al-Qasim al-Mustafa Muhammad, and upon his pure and immaculate family, especially the Awaited Savior (Baqiyatullah fi’l-ard), may our souls be sacrificed for him. May Allah hasten his noble reappearance, and may eternal curse be upon all his enemies.&nbsp;On the nineteenth night of the blessed month of Ramadan, the Commander of the Faithful, peace be upon him, was subjected to a cowardly and brutal attack by the enemies of Islam. I extend my heartfelt condolences for this great tragedy to the presence of the Awaited Savior, may our souls be sacrificed for him, to all Shiites and devotees, and indeed to all Muslims and the oppressed people of the world.”&nbsp;We are in a period marked by the painful loss of the Supreme Leader of the Islamic Revolution, His Eminence Grand Ayatollah Khamenei, which has deeply affected the revolution, society, and the Shiites. His blessed body still rests on the earth, and due to the difficulties created by the enemies of Islam and the resulting insecurity, this pure body remains on earth. Hearts and souls are heavy with grief. However, thanks be to Allah, this loss has been alleviated by last night’s announcement and the Assembly of Experts’ selection of a worthy successor, who will serve as the third leader of the sacred system of the Islamic Republic. This choice has been a balm to the accumulated sorrows and grief of the people of this country. As we have seen, many expressed that this selection has brought them peace and has somewhat eased the profound and layered sadness. The pillar of the Islamic system is the Guardianship of the Jurist (Wilayat al-Faqih). After the era of the Imams, may peace be upon them, when these great leaders are not visibly present among the people, the responsibility, as ordained, rests upon the qualified jurists (faqihs) who meet the necessary conditions. The central support (pillar) of this system will be raised and upheld by a jurist who fulfills these qualifications. Thanks be to Allah, just as after the passing of Imam Khomeini, the founder of the Islamic Revolution, God had ordained and prepared a reserve. Before that great leader was chosen, these aspects of the successor were hidden and not apparent. Yet, Allah guided the minds of the Experts at that time to select a personality whose virtues, strong management, and merits became increasingly evident to the world over time. God willing, this current selection will be similar, and God willing, this esteemed figure, Ayatollah Seyed Mojtaba Khamenei (may his shadow be extended), will, like his father, uphold this banner. God willing, the hope that the revered father had to entrust this banner to the Awaited Savior (Baqiyatullah al-Azam) will be realized through this son and worthy successor. For a scholar to be successful, several essential elements must be considered.&nbsp;The first pillar for a scholar is jurisprudential expertise, being learned, and having familiarity with the various aspects of Islam. In a well-known narration from Umar ibn Hanzah, Imam Ja‘far al-Sadiq, peace be upon him, said: ‘Someone among you whom I have appointed as ruler, who understands our lawful and prohibited matters and the customary practice of our laws’ &nbsp;("و نظر فی حلالنا و حرامنا و عرف احکامنا" ). He further explained that anyone who opposes this appointed person is, in effect, opposing Imam al-Sadiq himself, and such opposition is considered akin to associating partners with Allah. Thanks be to Allah, Ayatollah Seyed Mojtaba Khamenei (may his shadow be extended) has attained the status of “observing their lawful and prohibited matters and customs of their rulings” ("نظر فی حلالهم و حرامهم و عرف احکامهم").&nbsp;Thanks be to Allah, he possesses this first condition and pillar. He has studied for many years under the guidance of prominent scholars and masters in Qom, completing the prepatatory stages before Dars-e-Kharij under trusted professors. I know these professors personally, and they all highly praised his exceptional aptitude and intelligence, noting that he passed those years admirably. For many years, he has taught Dars-e-Kharij, the highest level of study in the seminaries. Naturally, this educational and teaching background has enabled him to attain this most important pillar of his position and office: insight into what is lawful and prohibited and an understanding of customary practices (“نظر فی حلالهم و حرامهم و عرف احکامهم”).”&nbsp;According to the supplications of the Awaited Savior (Baqiyatullah al-Azam), he prayed for the success of all groups, especially scholars, requesting two key qualities: asceticism (zuhd) and sincerity (nasiha). Asceticism refers to detachment from the fleeting material world, including worldly honors and positions. This quality, thanks be to Allah, is present in this family: the late Ayatollah Seyed Javad Khamenei, the late Supreme Leader, and his son, Ayatollah Seyed Mojtaba Khamenei. By the grace of Allah, we had the opportunity to visit the late Supreme Leader weekly, and it was clear that his life was one of ascetic devotion. His children were raised similarly, embodying asceticism, piety, God-consciousness, and dedication to struggle. For assuming leadership in Islam, asceticism is a crucial condition. As mentioned in the Du‘a Nudba: “After making them detached from the lowly things of this world…”—God grants the Imams their leadership after testing their asceticism, and their success in these trials is what allows them to attain high stations. Similarly, the success of a religious scholar is measured by this quality, according to narrations concerning the Awaited Imam. Thus, we testify unequivocally that Ayatollah Seyed Mojtaba Khamenei possesses both the first pillar, knowledge of lawful and prohibited matters, and the second pillar, asceticism and detachment from worldly desires. I have also heard that he accepted this position, which the Assembly of Experts insisted upon, out of a sense of duty, despite being in the midst of great personal sorrow—the loss of his esteemed father and mother, his honorable spouse, some sisters, and other relatives. Yet, understanding the country is under attack by the enemies of Islam, Iran, and humanity, he recognized the obligation to uphold the system, keep it dignified, active, and courageous, and to maintain its central pillar.&nbsp;Thanks be to Allah, he accepted this responsibility, responding to the wise choice of the Experts. We also express our gratitude to the Assembly of Experts for performing their duty well and making a sound choice, and to this esteemed scholar for accepting the position. We pray that he is continuously under the guidance and blessings of the Awaited Savior, who is the source of this viceregal authority, and that he may fulfill this responsibility in the best possible way. Another quality that the Awaited Imam (Imam al-Zaman, peace be upon him) desired for the success of scholars is nasiha—sincerity and heartfelt care. Nasiha means genuine concern: that a person cares for the people of his society, for the servants of Allah, and for all social groups, wishing for their well-being, comfort, spiritual growth, and adherence to the path of truth. Thanks be to Allah, we see that this quality is present in this esteemed scholar. I am aware that, alongside his revered father (may Allah have mercy on him), he was an active participant in gatherings held to address various problems. Being present at the heart of these events has given him complete familiarity with theses circumstances and its characteristics, which is a crucial attribute for anyone assuming leadership. He has not been isolated or uninformed; he has been actively present in these critical situations. From his youth, he was involved in the fronts of the Sacred Defense (Jebhe-ye Defa’-e Moqaddas), serving anonymously and without recognition, and without people knowing that he was the son of the respected President of that time. His other children were raised similarly. I am aware of this. This is a divine quality present in this family; they are not ostentatious or showy about their deeds. Thanks be to Allah, I must say that Ayatollah Seyed Mojtaba possesses many virtues. God has blessed him with piety and God-consciousness. His lectures were attended by over a thousand students and continued for many years. Reportedly, last year, he paused his lectures for a spiritual reason. Many might continue teaching in order to maintain prominence, but he suspended his lecture out of a spiritual consideration. Some students even petitioned his esteemed father (may Allah have mercy on him) to instruct him to continue, but he reportedly told his father: ‘Do not command me.’ He explained that the audience was suitable for a Marja’s lecture. This is a very high position to be in for a human to recognize one’s limits before the Almighty.&nbsp;From the bottom of my heart, i say that these virtues are extremely important and it is precisely these that attract the blessings and favors of Almighty Allah.&nbsp;These pure intentions and righteous methods attract the blessings and guidance of the Awaited Savior (Baqiyatullah al-Azam, may our souls be sacrificed for him), and everything we have comes from the favors of the Almighty Allah and His chosen ones, among whom today is the Awaited Savior. I extend my heartfelt congratulations on this selection to his blessed self, to the wise and loyal people of this country, and indeed to all the oppressed and downtrodden of the world who hope that this revolution achieves its objectives. We hope that, God willing, during his leadership and guidance, affairs will reach a better state of order, and complete security will be established in the country of the Ahl al-Bayt, peace be upon them. The cultural and economic challenges we face are largely the result of the hostility of our enemies and the problems they have created. Otherwise, this country, with its inherent resources, its God-fearing, highly educated scholars, and its learned citizens, could have achieved remarkable progress. Even now, those who lived through the era of tyranny (the Shah’s regime) and have also witnessed the present period can see that the difference is as vast as heaven and earth. Having personally experienced that time and seeing the present, the change is profound. Despite all the challenges, sanctions, and hostilities—many of which constrained the authorities—significant advancements have nevertheless been made. Consider our armed forces; their remarkable achievements in various fields have been realized under the leadership of our late, beloved Supreme Leader, guided by his counsel, and through the tireless efforts of dedicated &nbsp;scholars who contributed to this path. Other sectors of the country have similarly progressed. God willing, with the special guidance and support of Almighty Allah in this blessed month, and with the assistance of the Master of the God-conscious (Mawla al-Muttaqin) and the Commander of the Faithful (Mawla Amir al-Mu’minin, peace be upon him), who achieved countless victories during the time of the Messenger of Allah (peace and blessings be upon him and his family) and afterwards, may God willing these victories be granted to this worthy successor of that great leader.&nbsp;One of the distinguishing attributes of this esteemed scholar is that he comes from this noble lineage—descendants of the Messenger of Allah and of the Commander of the Faithful and the Imams of Guidance, peace be upon them. As some scholars have stated, the Khamenei family’s status as Sayyids is indisputable. It is incumbent upon all of us and upon every segment of society—whether the esteemed clergy, scholars in various fields, university academics, men, women, youth and adolescents, and all those living under the banner of Islam in this country—to express loyalty and support. A leader can only advance his work with steadfast steps when he enjoys the support of the people, and this is an essential requirement.&nbsp;I have heard that in the year 1342 (1963 CE), when Imam Khomeini was arrested and later released, one of those present among the crowds who had gathered to demonstrate support for him was Grand Ayatollah Bahjat. He would come into the crowd to show that we stand in support. Ayatollah Bahjat himself was a highly accomplished faqih of the highest caliber, yet seeing that the banner of Islam was in the hands of Imam Khomeini and that he had raised this flag, he considered it his duty to appear among the crowds who were expressing their loyalty. From the late Grand Ayatollah Khamenei, may Allah have mercy on him, I heard that some of the prominent scholars of Mashhad who were his teachers, such as Ayatollah Mojtaba Qazvini and Mulla Hashem Qazvini, came to Qom from Mashhad to show their loyalty and support when Imam Khomeini began the revolution. Today, God willing, all the great scholars, elites, intellectuals, scientists, members of various professions, and the youth—whom we see in these nights expressing their loyalty and participating actively despite the threat of malicious attacks by enemies—are present heroically, raising slogans and expressing themselves in ways that inspire awe. Sometimes, when one sees these remarks - where a teenager says something that a wise person would say - one is truely moved. Thanks be to Allah, God has granted deep insight to this people and this country. I offer my congratulations and hope that this selection, God willing, will be blessed, and that the void left by the loss of the late great leader will be filled through this esteemed successor. One of his distinguishing qualities is that he is also a Khamenei. This alone continuously evokes the memory and significance of his honored father, who have rendered immense service to this country. God willing, what the leaders of the revolution—Grand Ayatollah Imam Khomeini (may Allah have mercy on him) and his worthy successor, Grand Ayatollah Khamenei (may Allah have mercy on him)—intended will continue under the leadership of this worthy successor. Indeed, we hope that, with the blessings of Almighty Allah and the Awaited Savior (Baqiyatullah al-Azam, may our souls be sacrificed for him), things will continue to improve ever more. And finally, “All praise is due to Allah, Lord of all worlds”.

Ayatollah Shab-Zendeh-Dar, elaborated on the principle of the Wilayat al-Faqi and the selection of the third leader of the Islamic Revolution

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Detailed Statement of Ayatollah Shab-Zendeh-Dar Regarding the Third Leader of the Revolution

Ayatollah Ali Andalibi, a contemporary jurisprudence professor and author of the book “Fiqh of the Stock Exchange and Securities” and also a professor of Ayatollah Seyyed Mojtaba Hosseini Khamenei, expressed some points in a message approving Ayatollah Seyyed Mojtaba Hosseini Khamenei ijtihad. The text of the message is as follows: &nbsp;In the name of Allah, the Most Gracious, the Most MercifulPraise be to Allah, the Lord of the Worlds, and prayers and peace be upon our Prophet Muhammad and his pure family, and curse be upon all their enemies.It is hereby certified that His Eminence, Ayatollah Haj Seyed Mojtaba Khamenei (may the Almighty protect him), possesses the power&nbsp;of Ijtihad, a strong aptitude, and exceptional intelligence in understanding jurisprudential matters. The book on Purity and the Impurity of Wine, which is a written summary of his esteemed lectures, serves as evidence supporting the above statements.&nbsp;May Allah, the Exalted grant him and us success in attaining His Pleasure.Ali Andalib&nbsp;<figure class="image"><img src="https://fiqhci.s3.ir-thr-at1.arvanstorage.com/tayydh_ayt_allh_endlyby_34824eb171_9bd6ff7e31.jpg"></figure>

Ayatollah Ali Andalibi recognized Ayatollah Seyyed Mojtaba Hosseini Khamenei as having the authority of ijtihad.


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Statement of Ayatollah Andalibi regarding Ayatollah Seyyed Mojtaba Khamenei

In a video message, Ayatollah Mohammadi Qaeni, while offering condolences on the martyrdom of the nations Supreme Leader, called on believers and scholars to attend gatherings to preserve the Shi'ite government.&nbsp;&nbsp;<a href="https://dl.fiqhci.com/library/video/_فیلم آیت الله قائنی پس از شهادت قائد امت.mp4">https://dl.fiqhci.com/library/video/_فیلم آیت الله قائنی پس از شهادت قائد امت.mp4</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Ayatollah Mohammadi Qaeni, while offering condolences on the martyrdom of the leader of the nation, called on believers and  and scholars to attend gatherings 

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Ayatollah Qaeni Calls on Scholars to Take Action to Preserve Shi'ite Government

Ayatollah Shahidi has sent the following message to Hojjatoleslam wal-Muslimeen Agha Seyed Mostafa Khamenei, the esteemed son of the Supreme Leader, which we are publishing here with his permission. The message was delivered through one of Agha Mostafa’s relatives, Hojjatoleslam Haj Sheikh Alireza Ostadi, as direct access to him was not possible.&nbsp;In the name of Allah, the Most Gracious, the Most Merciful&nbsp;Indeed we belong to Allah and indeed to Him we will return&nbsp;To the Great Hojjat al-Islam Hajj Sheikh Alireza Ostadii, may God have mercy on him,&nbsp;The heartbreaking tragedy of the martyrdom of the Supreme Leader of the Revolution, His Holiness Hajj Seyyed Ali Khamenei, as a result of the brutal attack of the cruel and child-killing Zionist regime, accompanied by the aggressive American government, has wounded our hearts, and God is witness that these days, when I am in bed with illness, I cannot rest and I am deeply affected by hearing this news. I ask Your Excellency, if possible, to convey my condolences and sympathies to His Holiness Hajj Seyyed Mustafa Khamenei, may God protect him, and to his other brothers. I pray to God Almighty for forgiveness and divine pleasure for the great leader, and for the survivors and the noble nation of Iran, beautiful patience and a great reward. God willing, the Iranian nation will overcome this life-threatening problem like other problems, and divine help will be with them. And victory is not except from Allah, the Exalted in might, the Wise. Mohammad Taghi Shahidi

Ayatollah Mohammad Taqi Shahidi, one of the contemporary jurisprudence professors, expressed his condolence following the martyrdom of Imam Khamenei.